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[DotGNU]auctions: a flawed market? (was Re: Professional online tech sup

From: S11001001
Subject: [DotGNU]auctions: a flawed market? (was Re: Professional online tech support for GNU/Linux?)
Date: Fri, 12 Jul 2002 02:06:05 -0500
User-agent: Mozilla/5.0 (X11; U; Linux i686; en-US; rv:1.1a+) Gecko/20020703

James Michael DuPont wrote:
Sounds good.
Here are my 2 € cents :

ISO-8859-15 is cool. Unicode is still cooler though ;)

* how is price determined?

Via an ebay bidding system, people put what they will pay, and
the developers sell thier time on a market system.

On a mildly related note, I read an interesting article in a recent _The Economist_ called "Bidding adieu?" It opined that auctions had proven not to be efficient markets.

It is not free, but I will quote:

Chalk it up to the winner's curse: it is sometimes the most optimistic, and least well informed, bidder who wins at auction...Thus more bidders (ie, more demand) can actually lead to lower prices, since each bidder fears that a larger number of competitors might know more than he does...An increase in the supply may actually bring higher prices, as bidders feel less worried about the winner's curse.

Stephen Compall
DotGNU `Contributor' --

It read like a socialist polemic, but I saw something different. I
saw a business plan in disguise.
        -- Michael Tiemann, co-founder of Cygnus Support, on the
        GNU Manifesto

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